The emergence of generative AI (gen AI) presents both a challenge and a significant opportunity for leaders looking to steer their organizations into the future. How big is the opportunity? McKinsey research estimates that gen AI could add to the economy between $2.6 trillion and $4.4 trillion annually while increasing the impact of all artificial intelligence by 15 to 40 percent. In the technology, media, and telecommunications (TMT) space, new gen AI use cases are expected to unleash between $380 billion and $690 billion in impact—$60 billion to $100 billion in telecommunications, $80 billion to $130 billion in media, and about $240 billion to $460 billion in high tech. In fact, it seems possible that within the next three years, anything not connected to AI will be considered obsolete or ineffective.
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